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and all other documents required to be executed by MMLE in comlection with the Mutual Mesa <br />Project. <br />2. Loan Contract. The Board approves the Loan Contract in the form attached to <br />this Resolution and authorizes and directs MMLE's Manager to take all actions and sign all <br />documents necessary to enter into and comply with that contract. <br />3. Project Agreement. The Board approves the Project Agreement in the form <br />attached to this Resolution and authorizes and directs MMLE's Manager to take all actions and <br />sign all documents necessary to enter into and comply with that agreement. <br />4. Contractor Agreement. T 1 thorizes and directs MMLE's Manager to <br />1 L. <br />take all actions and sign all documep" .` -s a "tr o egtrlktq� and comply with the Contractor <br />f <br />Agreement. <br />5. Certificate of Deposit "ard authorizes and directs MMLE's Manager <br />to take all actions and sign all docu ` cessary to: (i) borrow sufficient funds from OMID to <br />enable MMLE to establish a Certific;" of Deposit in accordance with the terms of the Loan <br />Contract; (ii) to establish such Certificate of Deposit; and, (iii) execute an assignment of that <br />Certificate of Deposit to the State of Colorado in accordance with the terms of the Loan Contract. <br />6. Security Agreement. The Loan Contract requires MMLE to execute a Security <br />Agreement in accordance with the Pledge of Revenues provisions of the Loan Contract to secure <br />the State of Colorado's rights in MMLE revenues pledged to repayment of funds loaned pursuant <br />to the Loan Contract. The Board authorizes and directs MMLE's Manager to execute the <br />required Security Agreement in accordance with the terms of the Loan Contract. <br />7. Reserve Debt Service Fund. Pursuant to the Loan Contract, MMLE is required to <br />establish a reserve debt service fund by making an annual deposit in an appropriate account <br />equivalent to one -tenth of an annual payment under the Loan Contract every year for ten years, <br />and to replenish that fund anytime it is depleted. The Board authorizes and directs MMLE's <br />Manager to take all actions and sign all documents necessary to establish the required reserve <br />debt service fund and fund it as required by the Loan Contract. <br />8. Repayment of Loan. The Board authorizes and directs MMLE's Manager to take <br />all actions and sign all documents necessary to: <br />(a) Set rates, fees and charges to be collected from OMID pursuant to the Project <br />Agreement in an amount sufficient to repay the annual amounts due to the State of <br />Colorado under the Loan Contract; <br />(b) Place money collected from OMID each year in a special account separate and <br />apart from other MMLE revenues in an amount sufficient to assure repayment of <br />2 <br />